Posts filtered by tags: Petroleo Brasileiro SA[x]


 

Brazil's Petrobras says Caixa intends to sell stake in oil firm

Caixa Econômica Federal has informed Brazilian state-run oil firm Petroleo Brasileiro SA, known as Petrobras, that it intends to sell its stake in the oil firm, Petrobras said in a securities filing on Wednesday, citing a letter from Caixa.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, Caixa, Caixa Economica Federal


Brazil government pledges to keep hand off Petrobras

Petroleo Brasileiro SA's market-based diesel pricing policy remains unchanged and Brazil's president has no intention of meddling in Petrobras' internal affairs, high-ranking government officials said on Tuesday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Petrobras pricing policy unchanged, minister says

Petroleo Brasileiro SA's market-based diesel pricing policy remains unchanged, Brazil's mines and energy minister told reporters on Tuesday, despite a cancelled price hike on Friday that spooked investors.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Bolsonaro calls for 'fair' diesel prices, spooking Petrobras investors

Brazil's Petroleo Brasileiro SA canceled a diesel price hike on Friday as President Jair Bolsonaro called for "fair" prices out of concern for truckers, spooking investors wary of political interference at the state-run oil firm.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, Jair Bolsonaro, Bolsonaro


Explainer: Brazil's transfer-of-rights oil area - What's next?

Brazil's government and state-controlled oil company Petroleo Brasileiro SA have settled a long-running dispute about one of the world's most promising offshore oil areas, clearing the way for a blockbuster auction later this year.
Tags: Money, businessNews, Brazil, Petroleo Brasileiro SA


Exclusive: Brazil's Petrobras to sell other gas pipelines in wake of TAG deal's success - sources

State-run oil company Petroleo Brasileiro SA is preparing to sell three more gas pipelines after successfully selling its larger TAG unit to France's Engie for $8.6 billion, according to three sources with knowledge of the matter.
Tags: Money, France, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, Engie


Brazil government to pay Petrobras $9 bln for oil contract revision

The Brazilian government reached a landmark deal to pay state-controlled oil company Petróleo Brasileiro SA $9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said on Tuesday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, Bento Albuquerque


Petrobras agrees to sell pipeline unit to Engie for $8.6 billion

SAO PAULO/RIO DE JANEIRO (Reuters) - A consortium led by France's Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest divestment draws to a close. In a filing, Petrobras, as the company is known, said the Engie consortium, which includes Canada's Caisse de Dépôt e Placement du Québec, presented an $8.6 billion bid for 90 percent of the TAG gas pipeline unit in northern and no...
Tags: Science, France, Canada, Brazil, Petrobras, Sao Paulo, Petroleo Brasileiro SA, Engie, RIO DE JANEIRO Reuters, EIG Global Energy Partners, Mubadala Investment Company, Engie SA


Engie bids $8.6 billion for Petrobras pipeline unit, topping competitors

A consortium led by France's Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest-ever divestment draws to a close.
Tags: Money, France, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, Engie SA


Brazil's Petrobras receives three final bids for gas pipeline unit: sources

Brazil's state-controlled oil company Petroleo Brasileiro SA received three bids for gas pipeline network TAG, four sources with knowledge of the matter said on Tuesday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Exclusive: Investors drop out of two groups vying for Petrobras' gas pipeline unit - sources

At least three investors left separate groups interested in acquiring a gas network pipeline that will be sold by Brazil's state-controlled oil company Petroleo Brasileiro SA, three sources with knowledge of the matter said. The final bids for TAG, as the unit is known, are due on Tuesday. After the previously reported departure of Australia's Macquarie from one of the groups, which included Brazilian investment firm Itausa Investimentos SA and Singapore sovereign wealth fund GIC, the other tw...
Tags: Science, Australia, Singapore, Brazil, Petrobras, Macquarie, Petroleo Brasileiro SA, GIC, Wren House Infrastructure, Itaúsa Investimentos SA, Adia Abu Dhabi Investment Authority


Exclusive: Investors drop out of two groups vying for Petrobras' gas pipeline unit - sources

At least three investors left separate groups interested in acquiring a gas network pipeline that will be sold by Brazil's state-controlled oil company Petroleo Brasileiro SA, three sources with knowledge of the matter said.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Brazil's Petrobras restricts rivals in sale of LPG gas unit

Brazil's state-run oil company Petroleo Brasileiro SA said on Friday it had kicked off a second attempt to sell its liquefied petroleum gas (LPG) distribution unit and restricted local rivals in a potential deal to avoid blocking by antitrust authorities.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, LPG


Brazil's Petrobras kicks off second bid to sell LPG gas unit

Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it had kicked off a second attempt to sell its liquefied petroleum gas (LPG) distribution unit after an initial deal last year was scuttled by antitrust concerns.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, LPG


Brazil's Petrobras modifies diesel pricing, developing payment system for truckers

Brazilian state-run oil company Petroleo Brasileiro SA has approved a new pricing policy in which diesel prices at its refineries will not be readjusted more than once every 15 days, the company said on Tuesday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Exclusive: Trident Energy takes lead in Petrobras oilfield sale - sources

Warburg Pincus-backed firm Trident Energy is in exclusive talks with Petroleo Brasileiro SA to acquire a pair of Brazilian oil clusters, two sources with knowledge of the matter said this week, as the state-run company known as Petrobras moves to revive the sale effort.
Tags: Money, businessNews, Petrobras, Warburg Pincus, Petroleo Brasileiro SA, Trident Energy


Petrobras plans to cut $8.1 billion in operational costs through 2023

Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Exclusive: Brazil's state bank Caixa close to selling $2.4-billion Petrobras stake - sources

Brazilian state-owned bank Caixa Economica Federal is close to selling a 9-billion-real ($2.4 billion) stake it owns in oil company Petroleo Brasileiro SA, two sources with knowledge of the matter said on Tuesday. The share offering of the 2.3 percent stake owned by Caixa in Petrobras, as the oil company is known, depends on the publication of a new presidential decree authorizing the sale, the sources said, asking for anonymity to discuss private plans. President Jair Bolsonaro has already si...
Tags: Science, Brazil, Petrobras, Petroleo Brasileiro SA, Jair Bolsonaro, Caixa, Caixa Economica Federal


Exclusive: FBI investigating top Vitol executives in Americas - sources

The FBI is investigating trading firm Vitol's top two executives in the Americas in connection with a Brazil bribery case involving deals with Petroleo Brasileiro SA, two sources with direct knowledge of the matter told Reuters.
Tags: Money, Americas, Fbi, businessNews, Brazil, Petroleo Brasileiro SA, Vitol


Petrobras says deal to sell Pasadena refinery to Chevron nearly done

SAO PAULO (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA said on Wednesday that its negotiations with Chevron Corp to sell its Pasadena refinery are nearly done, and the deal will be discussed by its board this Wednesday.
Tags: Science, Pasadena, Chevron, Petrobras, Petroleo Brasileiro SA, Chevron Corp, SAO PAULO Reuters Brazil


Petrobras rejects latest EIG-backed bid for oilfields: sources

Petroleo Brasileiro SA has rejected the most recent bid by an EIG Global Energy Partners-backed firm to purchase a pair of shallow-water oil clusters, two sources with direct knowledge of the matter said, potentially derailing a major divestment late in the process.
Tags: Money, businessNews, Petrobras, Petroleo Brasileiro SA, EIG, EIG Global Energy Partners


Exclusive: Petrobras rejects latest EIG-backed bid for oilfields - sources

Petroleo Brasileiro SA has rejected the most recent bid by an EIG Global Energy Partners-backed firm to purchase a pair of shallow-water oil clusters, two sources with direct knowledge of the matter said, potentially derailing a major divestment late in the process. Ouro Preto Oleo e Gas, a Brazilian energy firm backed by sector-focused private equity firm EIG entered exclusive talks in July with Petrobras, as the state-run oil firm is known, to purchase its Pampo and Enchova clusters. Petro...
Tags: Science, Brazil, Petrobras, Petroleo Brasileiro SA, EIG, EIG Global Energy Partners, Pampo


Petrobras board nominee Forman declines post

Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday that oil industry veteran John Forman had declined the government's nomination to join the board of the company, as the firm is known.
Tags: Money, businessNews, Petrobras, Petroleo Brasileiro SA, Forman, John Forman


Petrobras board nominee fined in 2016 for insider trading: documents

One of three new board members nominated by Brazil's government to sit on the board of state-run oil company Petroleo Brasileiro SA was fined in 2016 by securities regulator CVM for insider trading, according to CVM documents on the ruling seen by Reuters. The disclosure raises tough questions for new far-right President Jair Bolsonaro and Petrobras Chief Executive Roberto Castello Branco, who have vowed to end years of graft involving the oil company and Brazil's political class. Nominee Jo...
Tags: Science, Brazil, Petrobras, Reuters, Petroleo Brasileiro SA, CVM, Jair Bolsonaro, Roberto Castello Branco, John Forman


New Petrobras CEO pushes to oust board members: sources

The new chief executive of Brazil's Petroleo Brasileiro SA is pushing for the ouster of two of the state-controlled oil company's board members, three people with knowledge of the matter said on Friday. Roberto Castello Branco is seeking the resignation of two Petrobras board members, Segen Estefen and Durval Soledade, whose mandates were only supposed to end in 2020. Brazilian newspaper Valor Economico was first to report that Castello Branco was pushing for their exit.
Tags: Science, Brazil, Petrobras, Petroleo Brasileiro SA, Valor Economico, Roberto Castello Branco, Castello Branco, New Petrobras, Segen Estefen, Durval Soledade


New Petrobras CEO pushes to oust board members: report

The new chief executive of Brazil's state-controlled oil company Petroleo Brasileiro SA is pushing for the ouster of two board members, newspaper Valor Economico reported on Friday. Citing unnamed sources close to the matter, Valor said CEO Roberto Castello Branco is trying to push out independent board members Segen Estefen and Durval Santos, whose terms end in 2020. With the departure of Estefen and Santos, the new government would name four of 11 board members at Petrobras, as the company...
Tags: Science, Brazil, Petrobras, Santos, Petroleo Brasileiro SA, Valor Economico, Valor, Roberto Castello Branco, New Petrobras, Segen Estefen, Durval Santos, Estefen


Exclusive: Top suspect in Vitol, Glencore Brazil bribery case arrested in U.S. - court

A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group, Glencore and other major oil trading firms has been arrested in the United States, authorities said Tuesday.
Tags: Money, businessNews, United States, Petroleo Brasileiro SA, Vitol Glencore Brazil, Vitol Group Glencore


Exclusive: Top suspect in Vitol, Glencore Brazil bribery case arrested in U.S. - court

A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group [VITOLV.UL], Glencore and other major oil trading firms has been arrested in the United States, authorities said Tuesday.
Tags: Money, businessNews, United States, Glencore, Petroleo Brasileiro SA, Vitol Group, Vitol Glencore Brazil


Exclusive: Petrobras oilfield gets bids from PetroRio, Karoon Energy -sources

Brazil's PetroRio SA and Australia's Karoon Energy Ltd are among the bidders for a mature shallow water oilfield owned by Petroleo Brasileiro SA, according to two sources speaking on condition of anonymity, as the state-run oil major marches ahead with an ambitious divestment program.
Tags: Money, Australia, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, PetroRio Karoon Energy, PetroRio SA, Karoon Energy Ltd


At Brazil's Petrobras, a 'Chicago Boy' takes the reins

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA , will either save the indebted oil major - or strip it to the bone. Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras - as the company is known - should be privatized, a hardcore proposal even in an administration packed with free market advocates. Castello Branco has sharply criticized th...
Tags: Science, Chicago, Brazil, Petrobras, Petroleo Brasileiro SA, Jair Bolsonaro, Roberto Castello Branco, Castello Branco